Today in the news: Bank of America sued for alleged mortgage fraud

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Hillsdale.net - Hillsdale, MI

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Posted Oct. 24, 2012 at 6:00 PM

Posted Oct. 24, 2012 at 6:00 PM

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News to know

The Justice Department sued Bank of America on Wednesday, saying the bank sold defective mortgages to Fannie Mae and Freddie Mac. The suit seeks $1 billion, the amount the government says Bank of America cost taxpayers because of the fraud.

Quote of note

“I struggled with it myself for a long time, and I realized that life is a gift from God, and I think even when life begins in that horrible situation of rape, that it is something God intended to happen.” – Republican U.S. Senate candidate Richard Mourdock, who made the comment during a debate Tuesday night. The Indiana politician is facing a lot of criticism for his comments, and Mitt Romney’s campaign distanced themselves Wednesday from the candidate they had endorsed.

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